Hyperion Insurance’s retail broking unit Howden has purchased Singapore-based insurance brokerage firm Sterling Knight.
The acquisition has secured regulatory approval from the Monetary Authority of Singapore.
Sterling Knight specializes in specie and international employee benefits. It serves clients ranging from multinationals to small and medium-sized enterprises.
The Singapore firm will continue to operate using its own licence under the leadership of CEO Victor Adam and other existing management.
Adam said joining Howden is an important step for the company.
“It gives us and our clients access to Howden’s extensive international reach as well as the product and technical capabilities of the wider Hyperion Group, which include access to RKH’s Specialty and Reinsurance experts in the London market,” Adam said.
Howden Singapore CEO Goh Chye Huat said: "Sterling Knight is a specialist expertise, professionalism and exceptional service.
“Alongside their market-leading Specie team, which will strengthen our existing capabilities in the region, their International Employee Benefits business will combine with ours to create a very strong proposition in Asia, further leveraging our recent partnership with CXA to extend access to their Flex technology, platform and expertise."
Howden and Hyperion CEO David Howden said: “The acquisition represents another significant milestone for Howden as we implement our regional strategy to grow our Asia footprint.”
Hyperion is an international insurance intermediary group with insurance broking and underwriting agency arms.
Howden Iberia, the Spanish and Portuguese operations of Howden Broking Group, has recently acquired insurance broker Bergé y Asociados Correduría de Seguros.
Image: Howden acquires specialist broker Sterling Knight. Photo: courtesy of stockimages/Freedigitalphotos.net.